Indus Bank's pretax profit rises 75%
( 2004-01-02 14:38) (Agencies)
Industrial Bank Co., a regional bank based in China's Fujian province,
reported a 75% on-year rise in pretax profit to 1.62 billion yuan in 2003, the
Financial News reports.
The bank's total assets grew 37% on year to 243 billion yuan, with total
outstanding loans rising to 164.6 billion yuan, up 71% from a year earlier, the
report says. Total deposits rose 39% on year to 200.5 billion yuan.
Its non-performing loan ratio fell 1.08 percentage points within the 12-month
period to 2.39%, based on the People's Bank of China's five-category
classification system, the report says.
Industrial Bank, formerly known as Fujian Industrial Bank, is 34% owned by
Fujian provincial government with Hang Seng Bank, a unit of HSBC Holdings PLC,
holding a 15.98% stake.